Outsourcing is a taboo word if you’ve been retrenched, reorganized or simply put laid off. With China and India leading the way, there is no stopping of outsourcing in the business world where profits matter most.
Ever since China open its doors to the international market, every business has been in a haste to outsource their manufacturing to China ? The reason : low cost. From supplies to labor, China is a haven for businesses.
Now, how, you may ask, does outsourcing applies to me ? It doesn’t matter if you’re an entrepreneur or your business has only 2 workers.
The idea of outsourcing is to make away with unnecessary jobs which do not add value to your company.
Let’s take a HR department for an example. Here you’re paying someone to manage the human resources of your company. From managing the payroll to interviewing new candidates, there are specialized companies who strictly perform one of these functions.
Let’s not mention about call center since everyone already knows which country is famous for that now. If you’re not one of those, it’s India.
As you see, as more and more companies outsourced their non-profiting departments, there will be more of these specialized companies fighting for your business. How does this benefit you ? As there are more competition, prices will be lower. Once you’ve outsourced, you’ve considerably reduced your overhead (calculate it in per annum terms and see the savings). Further more, you do not have bonus to give, no worries if your staff go on leave and best of all, your profit will increase from then on.
The beauty of outsourcing ? If you do not like one company, move on. There are many of them now. It is your choice. Go ahead. Outsource and increase your profit today.
PS : Look out for our next article, “Picking the right Virtual Assistant”.
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